VLY FY 2021 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2021 Earnings

Reported February 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.6B	—	-4.9%
Op. Income	$641M	—	$530M	—	20.9%
Gross Margin	89.4%	—	75.1%	—	14.3pp
Net Margin	31.8%	—	24.9%	—	6.9pp
EPS (Diluted)	$1.12	—	$0.93	—	20.4%
Free Cash Flow	$837M	—	$164M	—	411.8%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$157M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$390M
SG&A Expenses	$390M
Other Expenses	$301M
Operating Expenses	$692M
Cost & Expenses	$849M
OPERATING INCOME	$641M
Interest Income	$1.3B
Interest Expense	$124M
Other Income/Expenses	$0
INCOME BEFORE TAX	$641M
Income Tax Expense	$167M
Net Income from Continuing Ops	$474M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$474M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$461M
D&A	$51M
EBIT	$641M
EBITDA	$692M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$157M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$390M
SG&A Expenses	$390M
Other Expenses	$301M
Operating Expenses	$692M
Cost & Expenses	$849M
OPERATING INCOME	$641M
Interest Income	$1.3B
Interest Expense	$124M
Other Income/Expenses	$0
INCOME BEFORE TAX	$641M
Income Tax Expense	$167M
Net Income from Continuing Ops	$474M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$474M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$461M
D&A	$51M
EBIT	$641M
EBITDA	$692M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$474M
Depreciation & Amortization	$51M
Stock-Based Compensation	$21M
Deferred Income Tax	$27M
Other Non-Cash Items	$220M
Change in Working Capital	$44M
OPERATING CASH FLOW	$837M
Capital Expenditure	$0
Acquisitions (Net)	$322M
Purchases of Investments	-$1.7B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$1.4B
Common Stock Repurchased	-$24M
Common Dividends Paid	-$180M
Other Financing Activities	$2.5B
NET CASH FROM FINANCING	$964M
FREE CASH FLOW	$837M
Net Change in Cash	$721M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$1.1B
Net Receivables	$97M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$585M
Goodwill	$1.5B
Intangible Assets	$70M
Long-Term Investments	$36.6B
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$40.2B
TOTAL ASSETS	$43.4B
Account Payables	$0
Short-Term Debt	$656M
Deferred Revenue	$0
Other Current Liabilities	$35.6B
TOTAL CURRENT LIABILITIES	$36.6B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$38.4B
Common Stock	$148M
Additional Paid-In Capital	$3.9B
Retained Earnings	$884M
Treasury Stock	-$23M
Accum. Other Comp. Income	-$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$0
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$43.4B
Total Debt	$2.4B
Net Debt	$369M